#21  
Old 10-12-2017, 12:30 PM
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kw83028 kw83028 is offline
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Good luck! I would say pretty much what everyone else said.

From one owner to the next:
-Definitely 100% order the new releases as soon as you get word on their launch. People go nuts over anything new. BUT, on some of them, you'll have to try and make an educated guess on what will sell. It took me 2 months to sell 15 first run Innova Mystere, 3 months to sell 10 DD first run Criminal, but only 3 days to sell 40 Champ RocX3. Sometimes it's just a guessing game.
-I'm sure you have a decent idea as to what will sell well, but make sure you really pay attention to the trends in your store over the first 12 months. You obviously don't want to re-order something that you still have 5 of on the shelf from 2 months ago
-Keep your books clean and well organized. However you choose to do inventory, make sure you're able to track every single disc and weight class so you can see the trends and know exactly what you need to re-order.
-Don't focus a ton on special customer requests. As someone mentioned, you'll end up sitting on them. Probably 75% of special requests that I have fulfilled end up not being purchased by the person that requested them. I pretty much don't do it anymore unless it's something that I know I will sell if the person doesn't show up.
-An obvious statement on the money side of things, is make sure your time invested is worth it to you in your wallet and/or heart
-Something to think about, too, is if you can't afford to place an order, then don't do it. I have had talks with Innova/MVP/DD about retailers that require credit terms. That just boggles my mind. You'll never get out of the hole if you're buying on credit all of the time. You should have enough profit built in to your price points to pay your bills, order inventory, then pay yourself with what's left over. Sometimes, for me, that means not taking a paycheck for a month if I absolutely need to place an order.
-Another thought is to make sure your disc displays are easy to surf through and easy to stock and organize. I personally hate most of the wire racks out there that have the discs going front to back. I use PVC racks that I built. I think Glide uses some really nice wood boxes.
-Personally, I am anti Facebook groups, but to each their own. They're good for getting your name out there, but they are way too time consuming, and add an extra step to inventory each order. Do you have time to PM back and forth with a lot of people? If you get something special or rare in one of your orders, then FB is the place to go to make a few extra bucks for sure. If you run pre-orders on something that point the person to your online store, that works too. But overall, if you're running a brick and mortar, and an online shop, then direct Facebook PM sales are just a lot of time spent for meager sales.
-Finally, customer service is huge, obviously, lol.
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  #22  
Old 10-12-2017, 01:01 PM
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Zanguini Zanguini is offline
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Ignore the River Valley at your peril, there are many b-tiers down in the valley (Vintage Open, Arkansas Am Champ, Alma Greens, Hell on the Boarder) . And i do not think there is a dedicated disc only shop in Ft Smith or Little Rock most are side businesses that feature something else. In Russellville there is a place to buy discs in a bicycle and lawnmower shop, and in Conway it is in a table top gaming store.

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  #23  
Old 10-12-2017, 02:15 PM
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Countchunkula Countchunkula is offline
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Quote:
Originally Posted by kw83028 View Post
Good luck! I would say pretty much what everyone else said.

From one owner to the next:
-Definitely 100% order the new releases as soon as you get word on their launch. People go nuts over anything new. BUT, on some of them, you'll have to try and make an educated guess on what will sell. It took me 2 months to sell 15 first run Innova Mystere, 3 months to sell 10 DD first run Criminal, but only 3 days to sell 40 Champ RocX3. Sometimes it's just a guessing game.
-I'm sure you have a decent idea as to what will sell well, but make sure you really pay attention to the trends in your store over the first 12 months. You obviously don't want to re-order something that you still have 5 of on the shelf from 2 months ago
-Keep your books clean and well organized. However you choose to do inventory, make sure you're able to track every single disc and weight class so you can see the trends and know exactly what you need to re-order.
-Don't focus a ton on special customer requests. As someone mentioned, you'll end up sitting on them. Probably 75% of special requests that I have fulfilled end up not being purchased by the person that requested them. I pretty much don't do it anymore unless it's something that I know I will sell if the person doesn't show up.
-An obvious statement on the money side of things, is make sure your time invested is worth it to you in your wallet and/or heart
-Something to think about, too, is if you can't afford to place an order, then don't do it. I have had talks with Innova/MVP/DD about retailers that require credit terms. That just boggles my mind. You'll never get out of the hole if you're buying on credit all of the time. You should have enough profit built in to your price points to pay your bills, order inventory, then pay yourself with what's left over. Sometimes, for me, that means not taking a paycheck for a month if I absolutely need to place an order.
-Another thought is to make sure your disc displays are easy to surf through and easy to stock and organize. I personally hate most of the wire racks out there that have the discs going front to back. I use PVC racks that I built. I think Glide uses some really nice wood boxes.
-Personally, I am anti Facebook groups, but to each their own. They're good for getting your name out there, but they are way too time consuming, and add an extra step to inventory each order. Do you have time to PM back and forth with a lot of people? If you get something special or rare in one of your orders, then FB is the place to go to make a few extra bucks for sure. If you run pre-orders on something that point the person to your online store, that works too. But overall, if you're running a brick and mortar, and an online shop, then direct Facebook PM sales are just a lot of time spent for meager sales.
-Finally, customer service is huge, obviously, lol.
Lots of good advice here, but I have to disagree with the bolded section.

Even if you have cash to pay for an order now, why would you if you can get 30 day terms? It's related to the time value of money. $1 dollar in your pocket is worth more than $1 dollar a month from now, because if you have a month to pay you could instead choose to invest the dollar (I know interest rates are minuscule, but the principal still holds). Credit terms are effectively a discount. If you can get a vendor to give you terms (probably difficult for a start up, but you can always ask after a few orders are paid on time); do it.

I work for a make to order manufacturing company. We have 60-90 day terms with the majority of our vendors and have 8 week lead times for customer orders. If we give our customers 30 day terms, we have a much smaller gap between paying for materials and collecting revenue than we would if we prepaid for materials.

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  #24  
Old 10-12-2017, 05:07 PM
Akaitatsu Akaitatsu is offline
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Some of my experience from working in a non-DG hobby shop a few decades ago.

Quote:
Originally Posted by kw83028 View Post
Definitely 100% order the new releases as soon as you get word on their launch. People go nuts over anything new. BUT, on some of them, you'll have to try and make an educated guess on what will sell. It took me 2 months to sell 15 first run Innova Mystere, 3 months to sell 10 DD first run Criminal, but only 3 days to sell 40 Champ RocX3. Sometimes it's just a guessing game.
You might try a promotional pre-order program. Offer a small discount if people order and pay for new stuff in advance. This might give you a better idea of how popular that new release will be and puts a little cash in the bank to help pay for the order on time.

Quote:
Originally Posted by kw83028 View Post
-I'm sure you have a decent idea as to what will sell well, but make sure you really pay attention to the trends in your store over the first 12 months. You obviously don't want to re-order something that you still have 5 of on the shelf from 2 months ago
-Keep your books clean and well organized. However you choose to do inventory, make sure you're able to track every single disc and weight class so you can see the trends and know exactly what you need to re-order.
Get a good computerized point-of-sale system. We had one back in the hobby shop in the early 90's. Even back then, it had some good reports we used to do inventories (hopefully you don't have much, if any, "shrinkage") and generate lists of stuff we needed to order. With the expansion of data science in the last decade alone, they should have some pretty nifty software for helping you with decision making.
Quote:
Originally Posted by kw83028 View Post
Don't focus a ton on special customer requests. As someone mentioned, you'll end up sitting on them. Probably 75% of special requests that I have fulfilled end up not being purchased by the person that requested them. I pretty much don't do it anymore unless it's something that I know I will sell if the person doesn't show up.
Make them put their money where their mouth is. Don't order it if you can't at least collect enough to cover your costs in advance.
Quote:
Originally Posted by kw83028 View Post
Something to think about, too, is if you can't afford to place an order, then don't do it. I have had talks with Innova/MVP/DD about retailers that require credit terms. That just boggles my mind. You'll never get out of the hole if you're buying on credit all of the time. You should have enough profit built in to your price points to pay your bills, order inventory, then pay yourself with what's left over. Sometimes, for me, that means not taking a paycheck for a month if I absolutely need to place an order.
...unless you get terms that are in your favor. The hobby shop I worked at usually paid their suppliers in cash (literally C.O.D.) because they gave an extra discount for immediate payment. If you don't get a discount and don't have to pay interest for paying later, then use your judgement.
Quote:
Originally Posted by kw83028 View Post
-Personally, I am anti Facebook groups, but to each their own. They're good for getting your name out there, but they are way too time consuming, and add an extra step to inventory each order. Do you have time to PM back and forth with a lot of people? If you get something special or rare in one of your orders, then FB is the place to go to make a few extra bucks for sure. If you run pre-orders on something that point the person to your online store, that works too. But overall, if you're running a brick and mortar, and an online shop, then direct Facebook PM sales are just a lot of time spent for meager sales.
-Finally, customer service is huge, obviously, lol.
These kind of go together. You might do some research and find out what your potential customers use. If a lot of them use Facebook, then it might be worth it for you to have a presence there.

Take your time and think through as many of the possibilities as you can. Work out those potential problems before you pull the trigger and open up shop. It will be a much more enjoyable venture for you if you do. The fact that you're seeking out advice in advance tells me that you have a good chance to make this work. You got this!
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  #25  
Old 10-12-2017, 07:16 PM
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kw83028 kw83028 is offline
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Quote:
Originally Posted by Countchunkula View Post
Lots of good advice here, but I have to disagree with the bolded section.

Even if you have cash to pay for an order now, why would you if you can get 30 day terms? It's related to the time value of money. $1 dollar in your pocket is worth more than $1 dollar a month from now, because if you have a month to pay you could instead choose to invest the dollar (I know interest rates are minuscule, but the principal still holds). Credit terms are effectively a discount. If you can get a vendor to give you terms (probably difficult for a start up, but you can always ask after a few orders are paid on time); do it.

I work for a make to order manufacturing company. We have 60-90 day terms with the majority of our vendors and have 8 week lead times for customer orders. If we give our customers 30 day terms, we have a much smaller gap between paying for materials and collecting revenue than we would if we prepaid for materials.
Very true. I guess I omitted an important piece to this puzzle. The discussions that I had with the mfg's was about how they have to put in a lot of work chasing down vendors that don't end up paying on time with many going to collections. They all gave me the impression that that is how a majority of vendors that use terms operate, which is why I was so boggled. But yea, by all means, if the terms are in the vendor's favor, and the vendor can and will pay within the terms with no problems, then definitely try the system.
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  #26  
Old 10-12-2017, 11:50 PM
Thavoc Thavoc is offline
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Quote:
Originally Posted by Zanguini View Post
Ignore the River Valley at your peril, there are many b-tiers down in the valley (Vintage Open, Arkansas Am Champ, Alma Greens, Hell on the Boarder) . And i do not think there is a dedicated disc only shop in Ft Smith or Little Rock most are side businesses that feature something else. In Russellville there is a place to buy discs in a bicycle and lawnmower shop, and in Conway it is in a table top gaming store.
I'm trying to make it to the Alma Greens. Beautiful course that really fits my game. Smart to hold in in Fall, will be beautiful. Plus in the Summer the heat is very prevalent on the first 7ish holes, out on those cliffs.
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